Fiat S.p.A. Torino is the holding company of the Fiat Group. Through its subsidiaries, Co. is engaged principally in the manufacture and sale of automobiles, commercial vehicles and agricultural and construction equipment. Co. is organized into operating sectors, divided in the two major... More
Saturday, Oct 1210:40 AMEuropean automobile market: Beware of taking on the Germans
Saturday, Oct 1210:40 AM| 15 Comments
- Major automobile companies are making a big mistake in thinking they can increase profit margins by taking on German automakers (BAMXY.PK, VLKAY.PK, DDAIF.PK) in the luxury market on their home turf, argues Neil Winston of The Detroit News.
- The "delusional" strategy to invest in the high-end market - instead of slashing capacity and following the lead of the successful South Korean automakers (KIMTF.PK, HYMLF.PK) in Europe - has proven disastrous to automakers such as Saab, Renault (RNSDF.PK), and Volvo (VLKAY.PK) in the past.
- Peugeot (GM, PEUGF.PK) and Ford (F) are guilty of falling for the temptation to move more models into the European upscale market, while Fiat (FIATY.PK) is playing small ball on the continent.
Friday, Oct 118:04 AMOdd position for Fiat CEO
Friday, Oct 118:04 AM| Comment!
- Fiat (FIATY.PK) CEO Sergio Marchionne denies the insinuation in a report issued earlier in the week that he discouraged investors from buying shares of Chrysler in a partial IPO.
- The combative exec is in the odd position of needing to publicly support an IPO that he wants to happen through a different avenue (full IPO via Fiat).
Thursday, Oct 107:39 AMChrysler IPO is no sure thing
Thursday, Oct 107:39 AM| Comment!
- Chrysler (FIATY.PK) CEO Sergio Marchionne says investing in the automaker through a partial IPO isn't the most attractive route for investors.
- The exec's comments were made during a conference last week.
- Many analysts think that a deal will ultimately be struck between Fiat and an union healthcare trust holding a large block of Chrysler shares which would end plans for the partial IPO.
Wednesday, Oct 97:06 AM
Friday, Oct 48:33 AMU.K. car registrations strong in September|Friday, Oct 48:33 AM| 2 Comments
Thursday, Oct 37:09 AMFiat still spinning its wheels in quest for full control of Chrysler|Thursday, Oct 37:09 AM| Comment!
Tuesday, Oct 18:21 AM
Tuesday, Oct 18:09 AMChrysler September U.S. sales|Tuesday, Oct 18:09 AM| Comment!
Monday, Sep 301:14 PMSeptember U.S. auto sales preview
Monday, Sep 301:14 PM| 1 Comment
- Auto sales in the U.S. are expected to post the first year-over-year decline in 28 months, but the industry is far from panicked.
- A calendar quirk had the Labor Day weekend included in sales tallies for August and September will have two fewer selling days than a year ago.
- Kelley Blue Book projects a seasonal adjusted selling rate of 15.2M units for the month.
- What to watch: A far better tell on the direction of U.S. auto sales is the steady stream of reports of vehicle shortages due to hot demand.
- Related stocks: GM, F, TM, FIATY.PK, HMC, NSANY.OB, TSLA, VLKAY.PK, DDAIF.PK, HYMLF.PK, BAMXY.PK, KIMTF.PK, VOLVY.PK, MZDAY.PK, MMTOF.PK, FUJHY.PK, FUJHF.PK
- Related ETFs: CARZ, VROM
Thursday, Sep 262:43 PMAuto parts makers to plead guilty to U.S. price-fixing
Thursday, Sep 262:43 PM| 9 Comments
- Nine companies based in Japan and two executives agree to plead guilty and to pay a combined $740M in fines for their roles in conspiracies to fix the prices of auto parts sold to U.S. car manufacturers, the Department of Justice says.
- The DoJ says price-fixed automobile parts were sold to GM, Ford (F) and Chrysler (FIATY.PK), as well as to U.S. subsidiaries of Honda (HMC), Mazda (MZDAF.PK, MZDAY.PK), Mitsubishi (MMTOF.PK), Nissan (NSANY.OB), Toyota (TM) and Subaru (FUJHY.PK, FUJHF.PK).
- Among the parts affected by the conspiracies were seat belts, radiators, windshield wipers, air conditioning systems, power window motors and power steering components.
Wednesday, Sep 257:32 AM
Monday, Sep 235:16 PMChrysler files for $100M IPO
Monday, Sep 235:16 PM| 3 Comments
- The automaker hasn't yet provided a proposed symbol. JPMorgan is the lead underwriter. (S-1)
- Chrysler had 1H revenue of $33.4B (+1% Y/Y), and net income of $764M (down from $966M a year earlier). 1H operating cash flow was $2.18B, and capex $1.66B.
- Cash/equivalents amounted to $12.2B at the end of 1H, restricted cash $349M, and long-term financial liabilities $13.1B.
- Fiat (FIATY.PK) owns 58.5% of Chrysler. CEO Sergio Marchionne mentioned last week a Chrysler IPO filing is on the way, and that the company is likely to begin trading in Q1 2014 (though it could list this year). Fiat wants to gain full control over Chrysler, but has been at odds with the UAW's healthcare trust (owns the remaining 41.5%) over price.
Sunday, Sep 223:31 AMFiat to buy GM out of diesel-engine JV|Sunday, Sep 223:31 AM| Comment!
Friday, Sep 2011:42 AMFiat prefers Chrysler deal over IPO|Friday, Sep 2011:42 AM| Comment!
Wednesday, Sep 187:44 AMFiat plans to refresh models|Wednesday, Sep 187:44 AM| Comment!
Tuesday, Sep 177:08 AMAnalysis: European sales may have bottomed out
Tuesday, Sep 177:08 AM| 1 Comment
- IHS Automotive's Carlos Da Silva thinks the European automobile market has bottomed out after dissecting the latest round of sub-par sales tallies on the continent.
- The analyst notes the rate of decline has slowed enough to call a bottom, although the general sentiment in the industry is that any recovery will be choppy at best.
- Related stocks: GM, F, TM, FIATY.PK, HMC, NSANY.OB, VLKAY.PK, DDAIF.PK, BAMXY.PK, VOLVY.PK